The US Dollar appreciated about 42 base points against the Canadian Dollar on Tuesday. The weekly R1 provided resistance for the currency pair during yesterday’s trading session.

Most likely, a brief retracement towards a support cluster formed by the combination of the 50-, 100—200-hour SMAs near the 1.3100 area.

If the support cluster holds, the USD/CAD currency exchange rate will continue its upside movement during the following trading session.

- advertisement -

However, technical indicators suggest that the Greenback might edge lower within this session.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.